Real estate revenue in Ho Chi Minh City reached VND173 trillion (over US$7 billion) in the first eight months of the year, up 6.1% year-on-year, according to the HCM City Statistics Office.
Foreign entities and individuals can now own up to 30% of the residential apartments in a building, including mixed-use developments, under a new decree effective on August 1.
Vietnam's industrial real estate market boasts ample potential, but challenges remain to its development.
The real estate market is widely expected to attract more investment in the near future due to many important driving forces, according to economist Can Van Luc.
A total of VND2.75 quadrillion (US$41 billion) went into the property market in 2023, according to the State Bank of Vietnam (SBV), an increase of 6.75% in comparison to last year.
Real estate has emerged as the biggest recipient of foreign direct investment (FDI) in January while foreigners now also have great demand for property in Vietnam, statistics show.
VOV.VN - A number of policies introduced by the Government to remove obstacles faced by business operations and promote social housing projects have recently exerted a positive impact on the real estate market, according to industry insiders.
Foreign investors are expected to plough large amounts of money into the Vietnamese property market in 2024-26.
Applying information technology in the real estate sector is a major trend, helping to easily connect parties in need with product and service providers, and changing the path of the Vietnamese property market, according to experts.
Prime Minister Pham Minh Chinh highlighted joint efforts by ministries, agencies, businesses and people in handling pending issues related to the real estate market while chairing an online conference on August 3.